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CNBC
Dec 31, 2012 6:00am EST
chained cpi, i think the president's got to go to harry reid and he's got to go to nancy pelosi and say, look, this is not the way i would have done it, but we've got to reach a consensus, it's going to be good for the programs ovnd it's going to bring them back to solvency. >> okay, so here's what else is on the schedule today. the house is going to be reconvening at 9:00 a.m. eastern for debate followed by legislative business. we'll see how things pan out. of course, bring you all of that throughout the day. in addition to all of that, we now have news that the pentagon is preparing to lay off 800,000 civilian employees if a deal is not reached to avoid the fiscal cliff by january 2nd, automatic domestic and military spending cuts will kick in, and the pentagon would be forced to cut 55 billion dollars in spending in the first nine months of 2013. there are a lot of worries in the defense industry, in government, about what that ultimately will all mean. let's take a quick check on the markets, see where things are headed, as market gets ready to open. dow looks like it would be off
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